RE:RE:RE:Financingchizzles wrote: whoisyourpapa wrote: The way I read the news release it sounds like IMC is out as a mine partner. Am I wrong?
whois
That is how I read it also, I was just waiting for one of you to mention it 1st incase I was wrong.
From the news release: Almonty intends to use the net proceeds of the debenture offering, the equity offering and the bridge loan for general corporate purposes and/or repayment of indebtedness of a wholly owned subsidiary of Woulfe. More specifically, Almonty is currently in the process of negotiating for an extension to March 31, 2016, of the existing third party indebtedness of Sangdong Mining Corp. (in the outstanding principal amount of approximately $11.33-million) currently due on Sept. 15, 2015, subject to $5-million thereof being repaid with the proceeds of the offerings on or about Sept. 15, 2015.